Unfortunately, the Solar Bonus Scheme is not available to new solar system customers.
Once your solar PV system has been installed, you can apply to your electricity distributor or state authority for a FiT. If your system meets conditions regarding size and location, you can enter into a FiT contract, based on either gross or net metering.
If all the energy you produce is exported to the grid, so you draw power back from the grid, as opposed to your system; this is considered gross metering. Conversely, net metering means you use the power your system produces first, then any additional power you need is imported from the grid; while any excess energy you don’t use is exported to the grid.
As there is no national FiT scheme, each state has different rules about the provision of FiTs when a battery is used to store energy. These rules often depend on the particular setup of your system; so it’s best to confirm your eligibility with your electricity distributor or retailer.
An electricity distributor owns the the power lines that supply electricity to your property. In contrast, an electricity retailer is authorised to buy energy from generators and charge you for the power you use.
Unfortunately the Solar Bonus Scheme, offered by Queensland’s State Government, is not available to new solar system customers.
Sovereign does not provide cleaning services at this time, as this hazardous work is best performed by a specialised tradesperson.
In the rare event that solar equipment covered by our workmanship performance warranty fails, we will install a replacement product.
Both STCs and LGCs are sold and surrendered via the Renewable Energy Certificate (REC) Registry, which is an online system.
Sovereign Solar partners with four financial service providers, which specialise in the renewables sector, for either residential or commercial customers.
Sovereign Solar is unable to provide financial services advice. However, we recommend informing your current insurer; to confirm if your solar system will be covered by your home and contents insurance.
Solar product depreciation can be claimed over the period of the equipment’s effective life, as a tax deduction. You should always confirm the tax benefits of a solar system with a tax accountant, who can make an assessment of your personal circumstances.
Most of our Sovereign Solar customers take advantage of our financial partnerships to obtain a loan or lease, to utilise solar energy.
Our financial partners are familiar with the renewables industry. As a result, they are better positioned to offer our customers hassle-free, low-doc loans at decent interest rates, and “tick and flick” solutions.
Yes solar panels are a great commercial investment opportunity. Utilising solar power can decrease business operational costs and positively affect cash flow.
Sovereign Solar’s partnerships with financiers makes solar PV systems accessible to business customers leasing their premises. Permission from your landlord is required.
A solar system lease to own agreement can be arranged with the property owner, at the conclusion of your commercial tenancy; or you can potentially extract the system. However, this is not usually a viable option for residential tenancies.
Unfortunately, existing FiT contracts only apply for customers who remain at the property where the system is installed. Also, system modifications are not valid for the FiT.